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AUREKA LIMITED — Capital/Financing Update 2018
Sep 19, 2018
64352_rns_2018-09-19_e59a50b9-95b4-4208-8e0d-34aee5c89f28.pdf
Capital/Financing Update
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ASX Announcement 20 September 2018
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Share Purchase Plan Closes Oversubscribed
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Navarre Minerals Limited (ASX: NML) (“ Navarre ” or “ the Company ”) is pleased to advise that due to strong shareholder support, its 2018 Share Purchase Plan ( SPP ) has closed oversubscribed.
The 2018 SPP, offering eligible shareholders the opportunity to subscribe for new shares up to a maximum value of $15,000 per shareholder, closed on 14 September 2018. Eligible shareholders to the SPP will be entitled to receive a pro-rata distribution of Junior Minerals Exploration Incentive (JMEI) credits.
The Company has accepted valid applications for 26,284,000 new ordinary shares and, as a result, has raised $1,314,200 before costs.
The SPP follows the successful completion of Navarre’s Share Placement to raise approximately $1.7 million that received strong support from major shareholders Kirkland Lake Gold Ltd. and The Victor Smorgon Group (VBS Exchange) as announced on 16 August 2018.
The SPP funds, combined with the Share Placement funds, will be used to accelerate drilling programs primarily on the Irvine and Tandarra gold projects and to meet ongoing working capital requirements.
The allotment of 26,284,000 new ordinary shares as a result of the SPP is expected to occur on Friday 21 September 2018. The new shares are expected to commence trading on market on a normal settlement basis on Monday 24 September 2018. Holding statements for these new shares are also expected to be despatched on Monday 24 September 2018.
The directors of the Company appreciate the support of its shareholders and wishes to thank all shareholders who participated in the SPP.
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For further information, please visit www.navarre.com.au or contact:
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Geoff McDermott Colin Naylor Managing Director Director & Company Secretary E: [email protected] E: [email protected] T: +61 (0)3 5358 8625 T: +61 (0)3 5358 8625
Navarre Minerals Limited | ABN 66 125 140 105 40 - 44 Wimmera Street | PO Box 385 | Stawell VIC 3380 Australia t +61 3 5358 8625 e [email protected] | w navarre.com.au
N a v a r r e M i n e r a l s L i m i t e d ( N M L ) A S X A n n o u n c e m e n t P a g e | 2
Navarre Minerals Limited | ABN 66 125 140 105 40 - 44 Wimmera Street | PO Box 385 | Stawell VIC 3380 Australia t +61 3 5358 8625
e [email protected] | w navarre.com.au